Fresh & Fit - How To Make Money With Business Funding w- Kenneth Smith

00:04:37.000 Welcome to the Fresh Fit Podcast.

00:04:39.000 Today we're going to do Money Mondays with Smitty here for Business Funding.

00:04:42.000 Let's go.

00:05:30.000 And I will never talk sorry about the questions Alright, and we're back.

00:05:36.000 So today we're going to do business funding with Smitty.

00:05:38.000 Shout out to our sponsor, rumble.com slash freshandfit.

00:05:40.000 And up next, David Green is going to be for BiggerPockets as well.

00:05:43.000 Yes, yes.

00:05:44.000 We got Dave in the house right now, guys.

00:05:45.000 We're going to be doing real estate after this.

00:05:46.000 So this episode is going to be business funding, guys, helping you guys get started with your business.

00:05:50.000 If you need funding, you want to start it up, and you need some capital, we're going to be talking about that.

00:05:54.000 Also, castleclub.tv, as you guys know, rumble.com slash freshandfit.

00:05:57.000 That is the home base for us.

00:05:59.000 And Castle Club, we did a great Zoom call yesterday with the guys.

00:06:01.000 I'm going to go ahead and post it on Castle Club for you guys very soon.

00:06:07.000 We're good to go.

00:06:10.000 We're good to go.

00:06:27.000 Right now, Funding Your Business, then Real Estate with Dave Green, then we're gonna go ahead and give you guys fresh and fit news, man.

00:06:33.000 So without further ado, let's introduce our special guest, man.

00:06:35.000 We know who you are, but they may not.

00:06:37.000 Smitty, who are you, brother?

00:06:39.000 Man.

00:06:40.000 Welcome.

00:06:41.000 Welcome.

00:06:41.000 Thank you.

00:06:41.000 I appreciate it.

00:06:42.000 Senior entrepreneur, man.

00:06:44.000 A lot of businesses that I got going on right now, but my main business that I've been focusing on is my funding company.

00:06:48.000 So that's when people come to me as a done-for-you service to be able to get funded for their business.

00:06:52.000 I also have a big digital marketing business that has been building and growing like big, man.

00:06:58.000 Y'all know the platform school?

00:07:00.000 Yeah, we know school.

00:07:01.000 Yeah, I think I'm like number one right now, number two out of the whole platform.

00:07:04.000 Sheesh.

00:07:05.000 That's the best community on the whole platform.

00:07:06.000 I've seen you everywhere, bro.

00:07:07.000 Yeah.

00:07:07.000 Batman Kevil, No Jumper.

00:07:09.000 You've been everywhere, brother.

00:07:10.000 Yeah, 100%.

00:07:11.000 So, shout out to you.

00:07:12.000 So, listen, man.

00:07:13.000 I want to get to know you a little bit better.

00:07:14.000 Yeah.

00:07:14.000 Give us your background, where you came from, childhood, and as well as your late parents, what you did for a living.

00:07:19.000 Yeah, so I'm from Chicago land area.

00:07:22.000 Grew up, my dad died when I was a baby, so I don't remember anything from him.

00:07:27.000 Didn't get to grow up with my father, my mom.

00:07:30.000 That's where I got my hustle from, my mom.

00:07:32.000 My mom took care of us for the most part.

00:07:33.000 Then my mom got in some trouble, so she went away for a couple years.

00:07:37.000 So then I was just with my grandma and my auntie and stuff like that.

00:07:39.000 So Chicago land area, that's where I was from.

00:07:42.000 And grew up in the suburbs of Chicago, though, because Chicago was wild, so I didn't want to be there, I'm going to be honest.

00:07:47.000 Of course not, bro.

00:07:49.000 But we stayed there for like two years, probably like the worst two years of my life, probably.

00:07:54.000 Experiencing all the things that you weren't supposed to experience when you're that young.

00:07:58.000 But that's just the reality of what's going on out there.

00:08:00.000 And so my mom got a chance to move me back out of the suburbs again.

00:08:04.000 I wanted to play basketball and stuff like that.

00:08:06.000 So after that, man, I just stuck to basketball and took college.

00:08:10.000 You made it out.

00:08:11.000 What was your first job, bro?

00:08:12.000 My first what?

00:08:13.000 First job.

00:08:13.000 I worked at a clothing and a shoes store.

00:08:16.000 A shoes store, man.

00:08:17.000 I wasn't making no money, but I liked dressing fly and having nice shoes and stuff like that.

00:08:23.000 So that was the only place I probably could work.

00:08:25.000 All the other jobs, I'd probably walk out within two days or three days.

00:08:28.000 I'd probably quit.

00:08:29.000 Do you ever imagine being where you are now, back then?

00:08:33.000 Actually, nah.

00:08:34.000 I had a different mindset of thing that I thought I was going to do.

00:08:38.000 I was, in my head, you know, young man, get to the NBA or go D1 in basketball.

00:08:43.000 That was on my brain.

00:08:45.000 That's what I was working hard for at first.

00:08:47.000 Until I realized the type of talent it really takes to get to the NBA for real.

00:08:52.000 I wasn't that one.

00:08:52.000 D1 is really hard.

00:08:54.000 Yeah, D1 is really hard.

00:08:56.000 100%.

00:08:56.000 I didn't make it there, so I knew I wouldn't make it to the NBA. So I had to figure another route.

00:09:01.000 And I couldn't even go through college anyway.

00:09:03.000 I dropped out of college regardless for basketball anyway. 1.00

00:09:05.000 Damn! 0.99

00:09:06.000 Yeah, I didn't like it, bro. 0.99

00:09:08.000 So let me ask you this.

00:09:09.000 Your business mindset, how did you acquire it and get into business funding itself?

00:09:12.000 Yeah, so a friend of mine started first.

00:09:15.000 A friend of mine got into learning about just business in general.

00:09:18.000 Then he learned about credit and business credit and stuff like that and got into real estate.

00:09:22.000 So he tried to tell me about it and I just kind of blew him off for a while until he actually did it himself.

00:09:28.000 So what he did was he got approved for like two or three credit cards in like a week span and got like $40,000, $50,000 in like three days.

00:09:36.000 So then that's like a light bulb in my head.

00:09:38.000 I'm like, bro, I've been trying to save $50,000 and $40,000 for the last two, three years and I still haven't been able to do it, but you was able to get approved for $40,000, $50,000 in two days?

00:09:46.000 All right, whatever that is, all right, we're going to learn that.

00:09:48.000 Yeah.

00:09:49.000 Yeah.

00:09:49.000 Because like what you'd imagine, you spend, let's say, a year or two of your business or your job saving up money to invest, right?

00:09:55.000 Yeah.

00:09:55.000 You can get it that quickly.

00:09:56.000 You can use it smartly and then make money off of it.

00:09:59.000 Yeah.

00:09:59.000 It's fast-tracks a lot of things for us, 100%.

00:10:01.000 How does one start or get into business funding?

00:10:04.000 Like, for example...

00:10:04.000 Yeah.

00:10:05.000 So the way that I do it, man, I leverage 0% interest business credit card stacking methods.

00:10:09.000 So I like to leverage our personal credit with our LLC and I'll go get no doc business credit card.

00:10:16.000 So some people ask like, well, I'm trying to get $100,000, $200,000.

00:10:19.000 Why does it get $100,000 loan or $200,000 loan?

00:10:22.000 Well, now they're going to ask you for documentation.

00:10:24.000 Yeah.

00:10:24.000 So they want tax returns.

00:10:25.000 They want, you know, a bank statement.

00:10:27.000 So they want proof of income.

00:10:28.000 So 80% of people don't got that.

00:10:30.000 So the route that I take is like we can get no doc business credit cards, and I'll be able to stack them up to be able to get access to your first $100,000 or $200,000.

00:10:38.000 And that route, I like it better because everybody more likely can get a good credit score and just an LLC, and we can be able to get you your first round of funding that way.

00:10:45.000 What are some top no-doc credit cards you recommend?

00:10:48.000 Man, Chase has the best one right now.

00:10:51.000 You hear about the Chase money glitch?

00:10:52.000 Yeah, I heard about all that crazy stuff.

00:10:54.000 No, but not that.

00:10:55.000 So Chase lending right now is pretty at a high standard right now.

00:10:58.000 So they're approving us from anywhere between $50,000 to $100,000 on one credit card.

00:11:04.000 Really?

00:11:05.000 And normal, yeah.

00:11:06.000 First time?

00:11:06.000 Yeah.

00:11:07.000 Wow.

00:11:08.000 Yeah, so that's just one credit card.

00:11:09.000 Can you explain to the audience real quick the difference between a regular credit card and a no-dot credit card or business card that you're describing?

00:11:15.000 Yeah, so I'll say this.

00:11:18.000 It's like a line of credit and a credit card.

00:11:19.000 I'll say that.

00:11:20.000 Because a credit card, meaning no documentation, I can go in a bank, I can get a credit card with a limit on it, And they're not gonna ask me for any proof of income or documentation.

00:11:30.000 I fill out my application and I get my approval based upon what I stated on my application.

00:11:35.000 I get my money right then and there.

00:11:36.000 I get $25,000, it's mine, I don't gotta show anything.

00:11:39.000 I just have to...

00:11:39.000 With a credit card.

00:11:40.000 With a credit card.

00:11:41.000 Yeah.

00:11:41.000 They're gonna pull my credit report, I'm gonna get my approval.

00:11:44.000 Now with a line of credit or if we try to get over a certain threshold...

00:11:47.000 You called it no-dot, right? 0.97

00:11:48.000 Huh?

00:11:48.000 You called it no-dot?

00:11:49.000 What was it?

00:11:50.000 No-doc.

00:11:50.000 Business credit card.

00:11:51.000 No-doc.

00:11:51.000 Okay, no documents you mean.

00:11:52.000 Yeah, that's what I mean.

00:11:53.000 No documentation that we got put up.

00:11:54.000 Okay, okay, okay, gotcha.

00:11:56.000 But like for a business line of credit, they're going to ask you for documentation.

00:11:58.000 They're going to ask you for tax returns, bank statements, or proof of income to be able to provide.

00:12:01.000 So when you say no document, you mean a credit card where you're just applying off your credit score alone.

00:12:05.000 That's what you mean when you say no document.

00:12:06.000 Okay.

00:12:06.000 No documents.

00:12:07.000 No documentation.

00:12:08.000 Okay.

00:12:08.000 They clarify.

00:12:09.000 Yeah.

00:12:09.000 All right.

00:12:09.000 What should my credit score be to even apply for this?

00:12:12.000 So most people think that it's the credit score and it's not.

00:12:16.000 So that's the first problem that we got to start changing up a little bit.

00:12:19.000 It's about your credit report and what's on it and how you built it that gets you approved for the money.

00:12:24.000 Sometimes you can have a 750 credit score and it seems like, oh, I'm good.

00:12:29.000 And the bank's going to tell you like, no, we can't give you 25,000.

00:12:32.000 It's like, why I got a 750?

00:12:34.000 It's because your profile is too thin.

00:12:36.000 It's way too thin for them to trust you for $25,000.

00:12:40.000 It's like you haven't been trusted enough for us to be able to give you $25,000.

00:12:43.000 So you need to be able to build out a thicker profile with more different accounts, a different mixture of different type of accounts so they can see you be able to prove yourself that you can pay companies back before they give you this money.

00:12:56.000 What's like an example of like one of those structures?

00:13:00.000 Yeah, so like an auto loan is a good account.

00:13:02.000 One that a lot of people don't know about is like you can get your rent reported on your credit report and you can get it backdated for a few years.

00:13:08.000 So now all those histories of all those months you've been paying your rent, you don't get no benefit from your credit report.

00:13:14.000 There are companies out here like Rent Reporters or Rental Karma that allow you to report your rent on your credit report and backdated for years of time that you've been paying it.

00:13:21.000 So you can get that added on to your credit report.

00:13:23.000 That's an amazing account to add on, you know what I mean?

00:13:25.000 That's a lot of money.

00:13:26.000 Yeah, exactly. 0.99

00:13:27.000 Damn! 0.99

00:13:28.000 Stuff like that. 0.99

00:13:29.000 So, like, self-kick-off, CreditStrong, these are credit builder accounts that people can start with, you know, and then, like, installment loans, credit cards, auto loans, mortgages, these type of things on your credit report makes it strong enough so now that they can trust you.

00:13:44.000 Would it be fair to say that a 720, where you have an auto loan, a home loan, maybe some other type of big loan, is better than having a 760 credit score with just...

00:13:54.000 I only paid off credit cards.

00:13:56.000 I don't have any...

00:13:56.000 100%.

00:13:57.000 You can have a 760 credit score and not get nothing.

00:14:00.000 I can have a 700 credit score and get 100,000.

00:14:02.000 Yeah, because you got a home loan and you got real loans under your name and you're paying them back.

00:14:06.000 Yes, sir.

00:14:06.000 Okay.

00:14:07.000 So let's say I pull up to the bank, Chase for example, how long would it take for me to get this funding from them?

00:14:13.000 With just Chase?

00:14:14.000 Yeah.

00:14:14.000 Oh, it's instant.

00:14:17.000 Really?

00:14:18.000 Yeah.

00:14:19.000 No waiting, no wait period at all?

00:14:20.000 Oh, well, you got to wait to get your, receive your card in the mail, probably five to seven business days, but it's instantly approved right then or it take like three to five days for an approval to come back and then you go with your card in the mail.

00:14:31.000 Okay.

00:14:31.000 Someone watch me now.

00:14:32.000 Checklist.

00:14:33.000 A to Z. What do they need?

00:14:34.000 Got you.

00:14:34.000 So, Okay.

00:14:54.000 Between all the cards?

00:14:56.000 Probably like two different cards with $2,000 limits or above.

00:14:59.000 That's what I like to go.

00:15:00.000 Okay, on both.

00:15:01.000 So $1,000 apiece, $1,500, $1,500, something like that.

00:15:04.000 Something like that, yeah.

00:15:05.000 So $2,000 limit, okay.

00:15:06.000 Yeah.

00:15:07.000 All right, and you said LLC properly structured.

00:15:09.000 Yeah, properly structured, meaning not your regular email, not your regular cell phone, not your home address, but a business address, a business phone number, a business email so that the banks can...

00:15:19.000 You want to look as good as on paper as not.

00:15:21.000 How long do you have to be incorporated, do you think, for them to not raise any?

00:15:24.000 It don't matter.

00:15:25.000 It could be brand new day one.

00:15:26.000 It could be brand new.

00:15:27.000 Brand new day one.

00:15:28.000 Okay.

00:15:28.000 Because the strategy I use is called personal guarantoring the money, meaning we're going to allow them to pull our credit on our personal side to give us the approval based upon just trying to use our LLC for the approval by itself.

00:15:40.000 Gotcha.

00:15:41.000 Okay.

00:15:41.000 Yeah.

00:15:41.000 So personal credit's the main?

00:15:42.000 Yeah, the main core thing to give us approval right now, you know, for us to get an instant approval.

00:15:47.000 Gotcha.

00:15:47.000 So they're giving you the business loan, but you're saying you're the personal guarantee.

00:15:51.000 Okay, that makes sense.

00:15:52.000 And you're doing that off your personal credit.

00:15:53.000 All right.

00:15:53.000 That's why we can be able to get a $25,000, $50,000 credit card right now today with day one on our LLC because we're going to personal guarantee it with our personal credit.

00:16:00.000 Gotcha.

00:16:00.000 So the second thing, so you said two credit cards at least with 2K limit, a properly structured business, business email address, etc.

00:16:07.000 Does it matter if they open it up as an S-Corp or as an LLC or as a sole proprietor?

00:16:11.000 None of that matters.

00:16:12.000 Just have a business, basically.

00:16:14.000 Incorporate your business, yeah.

00:16:15.000 With an EIN of some kind.

00:16:16.000 Yeah.

00:16:16.000 Okay.

00:16:16.000 All right, cool.

00:16:17.000 What's the next thing you think you need?

00:16:20.000 What's the next thing they need?

00:16:21.000 Once you've got the properly structured LLC and a good credit report, that's all you need.

00:16:25.000 700?

00:16:26.000 What do you say?

00:16:26.000 Around 700, 720.

00:16:28.000 But then you'll come to me, and then now this is where I help you.

00:16:32.000 This is where I do a done-for-you service, and I'll get your business funded for you, so you don't have to worry about knowing what to do, how to do it.

00:16:37.000 You don't have relationships with people inside the bank like I do.

00:16:40.000 You don't know what credit cards I go get.

00:16:42.000 You don't know strategically how to apply for them the correct way to get you the max.

00:16:46.000 Gotcha.

00:16:46.000 So that would be where I would come in, and I'll do it for you.

00:16:49.000 You don't got to worry about it, and I'll go get you your first $100,000 or $200,000.

00:16:52.000 What's the most I can get if I go through you versus myself?

00:16:55.000 It's some big differences.

00:16:57.000 So there's some people out here that I've seen get approved for Chase Credit Cards, and they get approved for $2,000 or $3,000, $4,000 limits.

00:17:02.000 And it's because they're applying online like the masses.

00:17:05.000 That was me.

00:17:06.000 Yo, bro, my freedom card? 0.99

00:17:07.000 I was like, this is crap. 0.94

00:17:08.000 I got a great score, but $2,000 was my max. 0.98

00:17:11.000 Yeah.

00:17:11.000 So I'll give y'all some game on how I get high limit credit cards.

00:17:15.000 So I've built relationships with bankers inside the bank, but at a high level.

00:17:19.000 So it's called business relationship managers.

00:17:21.000 These are the people who handle the underwriting and the push through of the applications for the business credit cards and the lines of credit.

00:17:27.000 So I have personal connections with these people, and I have my reps push through my applications for me or my clients so that we have a different type of algorithm of approvals than the normal, you know, type of client.

00:17:41.000 Gotcha.

00:17:42.000 It's going through a whole other trajectory, basically.

00:17:44.000 Whole different bargain.

00:17:44.000 It's not going through what everyone else normally goes through.

00:17:46.000 Yeah, so I get the request of my limits.

00:17:49.000 I don't get approved for limits.

00:17:50.000 So when you talk about them big limits, it's not that many people out here that can be able to get those $50,000, $80,000 on one credit card unless you go, you know what I mean, and have those relationships.

00:18:02.000 So that's where the value come in at.

00:18:04.000 You know, well, I can't do it myself.

00:18:06.000 Well, you're going to miss out on a lot of money you could have got access to if you try to do it yourself because you don't know.

00:18:11.000 You know, you didn't get taught the banking system on how to go about it the right way.

00:18:14.000 You're just doing what you think to know to do, like what you know to do.

00:18:17.000 So...

00:18:18.000 I played online, and yeah, I got screwed over.

00:18:21.000 2K with my max.

00:18:22.000 Yeah, yeah, exactly.

00:18:23.000 So if it came to me, we wouldn't have gotten a $2,000 limit. 0.99

00:18:26.000 Damn. 0.98

00:18:27.000 Yeah, and also what the reps do is they put a special note on our applications to why we need the money. 0.99

00:18:35.000 Oh, okay, gotcha, gotcha.

00:18:36.000 So now the banks will likely give you more money knowing why you need the money versus them not knowing why you need the money.

00:18:44.000 Gotcha.

00:18:44.000 And you're just applying.

00:18:45.000 You know what I mean?

00:18:45.000 So we'll say something like, we're about to hire a marketing team to be able to put more advertisement to our business.

00:18:52.000 We need access to this amount of money so we can put this into our business so it can grow.

00:18:55.000 Now the banks are like, oh, wow, yeah, you got the credit score, you got the LLC, you got a good plan.

00:18:59.000 Okay, let's extend him a higher limit than normal because this type of push-through. 0.61

00:19:04.000 Now, with this type of, do you recommend people go ahead and take cash arbitrage, pull money off of these cards, or should they always keep it strictly to credit, just swipe the card, don't try to pull cash off of it?

00:19:15.000 Yeah, so both.

00:19:16.000 It's a lot of things.

00:19:17.000 And 80% of the things that we got to do, you can use your credit card for it.

00:19:20.000 So some people be like, man, how do you liquidate the money off the credit card?

00:19:23.000 I could teach you how to liquidate the money off the credit cards, but you don't naturally always have to, man.

00:19:29.000 It's called liquidate.

00:19:30.000 So it's ways to liquidate the money off the credit card into cash.

00:19:33.000 And one way we can do that is I leverage a cool method, right?

00:19:37.000 We leverage ADP. You know what ADP is?

00:19:39.000 No, what is that?

00:19:39.000 Payroll system.

00:19:40.000 Yes.

00:19:40.000 Payroll system.

00:19:41.000 Oh, okay.

00:19:41.000 So I'll put you on some game of what I set up for my business and my client.

00:19:45.000 So with ADP, we can put ourself on payroll, right?

00:19:49.000 Meaning we can pay ourself from our business, all right?

00:19:52.000 What we do is, instead of the money getting taken out from our business bank account, why don't we get the money to get taken away from our business credit card?

00:20:02.000 So now, the payout from ourself, right, from our business to ourselves, so for mine's a Smitty Wealth Enterprise to Kenny Smith, right?

00:20:11.000 If I put myself on payroll for $10,000 every two weeks, I can leverage a third-party company called Zill Money, and they'll allow me to leverage my business credit card as their payout from my business to my personal self.

00:20:23.000 So now I can liquidate $10,000 every two weeks from my business credit card into my personal bank account cash, and I can go to the bank and take it out if I want.

00:20:31.000 That's a strategy we use to also create proof of income for yourself, also prepare yourself for taxes, and you can be able to liquidate your business credit card like that as well.

00:20:39.000 Gotcha.

00:20:40.000 Do you have to deal with, like, because a lot of these business credit cards sometimes have, like, fees and penalties, you know, for doing that.

00:20:46.000 Doing this intermediary process that you described, do you get the same fees?

00:20:51.000 Nope.

00:20:52.000 So, we want to stay away from, everybody on here, we want to stay away from cash advances.

00:20:56.000 Yes.

00:20:56.000 Cash advances, they're gonna smoke you on the amount.

00:20:59.000 They're gonna charge you.

00:21:00.000 That's some good stuff right there.

00:21:01.000 Matter of fact, okay, because people tend to confuse the two between cash advances and liquidating credit card.

00:21:06.000 Can you describe to the people the difference between the two?

00:21:08.000 Say that one more time.

00:21:09.000 The difference between cash advances and liquidating credit card.

00:21:12.000 Because people kind of conflate the two all the time.

00:21:13.000 Yeah, yeah, yeah.

00:21:14.000 Big difference.

00:21:16.000 We can go to the bank and take our $25,000 credit card and ask the bank for a cash advance.

00:21:21.000 They're going to be like, oh, we're going to charge you a 15% fee to do this.

00:21:24.000 Just to do it.

00:21:25.000 Just to do this transaction.

00:21:26.000 Hell no. 0.83

00:21:27.000 Hell no, bro.

00:21:27.000 You're going to charge $500, $700 for this and all you do is just give me cash.

00:21:31.000 Nah, we don't want to do that.

00:21:32.000 With this way, $0 charge.

00:21:34.000 Gotcha.

00:21:35.000 Using the intermediary.

00:21:36.000 So, okay.

00:21:36.000 So that's the big difference between getting a cash advance versus...

00:21:39.000 Because a lot of people confuse it with like, oh, do I just do a cash advance?

00:21:42.000 Yeah.

00:21:42.000 Versus liquidating a credit card where, you know, you described, you know, putting yourself on payroll and stuff.

00:21:47.000 How do you pay it back?

00:21:48.000 Pay what back?

00:21:49.000 The money you take out.

00:21:50.000 I mean, the only way we use credit.

00:21:52.000 So let's set this straight, too, for the audience, too.

00:21:54.000 Don't.

00:21:55.000 Only thing we use credit for is to leverage it to make money.

00:21:59.000 We do not use it.

00:22:01.000 So it's a thing called good debt.

00:22:02.000 It's a good thing called bad debt.

00:22:04.000 You need to learn how to leverage good debt.

00:22:06.000 So when we take this money off, you better have a plan to put it somewhere the way it's going to make you cash flow.

00:22:10.000 Period.

00:22:11.000 You can't be going on vacation.

00:22:13.000 Can't be going to get the jewelry. 0.99

00:22:14.000 Can't be going to get the Rolexes and dumb stuff. 0.94

00:22:16.000 That ain't going to make you no money. 0.76

00:22:18.000 So in this way, we better be using it to make us some money.

00:22:21.000 Understood.

00:22:22.000 Yeah.

00:22:22.000 Because we got to pay it back.

00:22:23.000 So, back in the day, there was this thing called SBA loans, which everyone was craving about.

00:22:28.000 How does that work, and is it similar to what you're doing, or no?

00:22:31.000 So, it's a lending option, right?

00:22:35.000 Now, this is more for people who are prepared documentation-wise.

00:22:41.000 SBA 7A loans is for business owners to use, small business owners to use, to get access to loans to purchase big purchases.

00:22:49.000 So, for example, one of the things that I'm about to start doing is buying storage facilities, right?

00:22:54.000 And one of the ways that people will be like, well, those cost a million, two million dollars.

00:22:57.000 How are you going to be able to, you know, obtain something like that?

00:22:59.000 Well, the SBA will let you leverage their loan to purchase businesses and things of that nature.

00:23:05.000 So, I can leverage a SBA 7A loan based upon how good my credit is, how long my business has been open, and my tax returns I have.

00:23:13.000 And they're going to ask for all these documentation, so you have to have them.

00:23:16.000 It's a government loan, so yeah.

00:23:17.000 You got to have all the things on point.

00:23:18.000 They're going to ask you for your P&L statements and all these things.

00:23:20.000 But what they allow you to do is, they allow you to purchase these businesses with only 10% down.

00:23:26.000 Leveraging the SBA loan.

00:23:28.000 Interesting.

00:23:28.000 10% down?

00:23:29.000 10% down.

00:23:30.000 So this is where I get fun, right?

00:23:32.000 This is where I get fun.

00:23:33.000 If I can purchase a $2 million business, like a store-specific, that's cash flowing already too, $30,000 a month, $40,000 a month, and I'm coming in with leveraging my credit, my business credit, to put the 10% down, I'm acquiring a $1.5 million business or a $2 million business with no money out of pocket.

00:23:50.000 This is called leverage.

00:23:51.000 This is how we leverage to be able to make us money.

00:23:54.000 You know what I mean?

00:23:55.000 This is the smart thing.

00:23:56.000 I'm talking about leveraging good debt to be able to make us money.

00:23:58.000 And this is what we want to set up for ourselves and do.

00:24:00.000 And this is how the big boys play.

00:24:02.000 Also, I think you noticed this.

00:24:05.000 Sorry, you mentioned this at the top of the interview.

00:24:06.000 A key to the strategy is getting no interest credit cards in the beginning, right?

00:24:11.000 You mentioned that suddenly.

00:24:12.000 Because a lot of them give you that grace period of like 18 months or whatever, right?

00:24:16.000 Can you want to describe that to the audience real quick?

00:24:17.000 Yep.

00:24:18.000 So, the business credit cards that we go after give you anywhere between 12 months to 18 months of 0% interest.

00:24:24.000 Meaning, when you borrow the money off of these credit cards, $25,000, $50,000, when you take the money off, you got to pay a minimum balance, maybe $100, but $150.

00:24:34.000 They'll literally allow you to borrow $100,000 and probably pay back $700 a month or something like that.

00:24:39.000 So we're borrowing that money at 0% interest for a year or two years sometimes.

00:24:46.000 Meaning...

00:24:46.000 Or a year and a half.

00:24:47.000 Yeah, so a year and a half.

00:24:49.000 So meaning, I don't have to pay them back more than I borrow.

00:24:53.000 Once I borrow the $100,000, if I could be able to do what I need to do within that year or year and a half, I pay them back $100,000, that's it.

00:25:01.000 That's so important.

00:25:02.000 Big important.

00:25:03.000 Because you're using someone else's money to acquire an asset so that you can make some cash flow and then you pay them back with zero interest.

00:25:10.000 That's like the...

00:25:11.000 Bro, this system?

00:25:13.000 Like that?

00:25:13.000 The way that I'll use it is like the ultimate...

00:25:15.000 And 18 months is enough time to make a play.

00:25:17.000 It is.

00:25:18.000 Should be.

00:25:19.000 12 to...

00:25:20.000 Sometimes it goes 6 all the way up to 18 months.

00:25:22.000 That should be enough time for you to acquire an asset and make some money.

00:25:25.000 So people going to Amscot and all these pay here loans places are getting repped off.

00:25:29.000 Literally.

00:25:30.000 Yeah, because, bro, they're gonna charge you interest.

00:25:32.000 Now you gotta give back $110,000 back, $120,000 back.

00:25:36.000 Now that's cutting into your profits or your cash flow.

00:25:38.000 Yeah.

00:25:38.000 Excuse me.

00:25:40.000 So, yeah, I like 0% interest, and that's why I like it, too.

00:25:43.000 That's why I teach it.

00:25:43.000 Why is it so important to go this route versus maybe, let's say, a hard money loan route?

00:25:49.000 Because a hard money loan route gonna tax you.

00:25:51.000 Oh, my God.

00:25:52.000 Them people that be doing real estate, borrowing them hard money, they get taxed.

00:25:55.000 I don't know my guy, Dave.

00:25:57.000 But yeah, my strategy, I like it because it's a 0% interest with hard money loan lenders.

00:26:04.000 They're going to give you their fees, man.

00:26:07.000 And those fees ain't small when you borrow a lot of money.

00:26:10.000 Well, I'll tell you this.

00:26:11.000 That method of getting money, bro, we don't learn in school.

00:26:14.000 And that sauce you just get earlier, bro, but getting 0%.

00:26:17.000 Dude, that's crazy, bro. 1.00

00:26:18.000 I'm gonna do that shit myself. 1.00

00:26:19.000 You better. 1.00

00:26:20.000 I'm deadass, bro.

00:26:20.000 You better.

00:26:21.000 Okay.

00:26:22.000 But he was, because I had interrupted you, sorry.

00:26:26.000 You were talking about the SBA loan.

00:26:29.000 Sorry you didn't get to finish that.

00:26:30.000 So you get the documentation, get this SBA loan, which allows you to acquire a business for 10%.

00:26:39.000 Okay.

00:26:40.000 And then you No, that's kind of the end of it.

00:26:42.000 It's just, that's how it would work if we were to use it.

00:26:44.000 If I were to go use a 7-day loan, if I'm trying to purchase something like a big purchase like that, I would leverage this SBA loan for something like that.

00:26:50.000 That's like a perfect example of what I would use a SBA loan for.

00:26:54.000 Okay, you would use it to acquire a real estate property?

00:26:56.000 Yes.

00:26:56.000 That makes money already.

00:26:58.000 So you wouldn't use it, would you use it to like buy like a, I mean, I guess you could like go buy a brick and mortar business, but- Possibly.

00:27:04.000 Yeah, but real estate is probably a safer bet, right?

00:27:06.000 Safer for the most part.

00:27:07.000 Yeah.

00:27:08.000 Oh, and then how much money do you have access to when you get this SBA loan?

00:27:13.000 So it's going to be leveraged to be able to go purchase.

00:27:15.000 It all depends on your income and credit report.

00:27:19.000 So it depends upon how much you get approved for.

00:27:21.000 Let's say you make $100K a year, just for the audience that might be wondering.

00:27:24.000 Yeah, so it's always going to be talking asset-based, too.

00:27:26.000 So it's about the business you're buying and things like that.

00:27:29.000 Because they're kind of in the hoots with you now.

00:27:31.000 The SBA work with you pretty good, pretty well, bro.

00:27:34.000 They'll be in this deal with you because they They are 90% in.

00:27:37.000 Yeah, of course.

00:27:38.000 They gotta monitor what's going on.

00:27:39.000 They're not just like, all right, here go, two million.

00:27:41.000 See you later.

00:27:41.000 Nah, it's like, all right, let's monitor this thing.

00:27:43.000 You guys need help.

00:27:44.000 We have a point of contact for you to be able to communicate things.

00:27:47.000 Oh, they got like a whole customer service to each other for that.

00:27:48.000 Yeah, because that's a lot of money, bro.

00:27:49.000 So, I've seen people get arrested for doing the SBA loans wrong.

00:27:53.000 Can you tell the audience how that happens?

00:27:55.000 Yeah, man.

00:27:57.000 I'm from Chicago, bro, so that I know about it.

00:28:00.000 So, man, people...

00:28:03.000 Not qualified to get these SBA loans.

00:28:05.000 They're putting certain things on the applications to where they're not supposed to.

00:28:08.000 And some of them used to get approved for them.

00:28:11.000 So they're just doing it in a different route.

00:28:14.000 You know what I mean?

00:28:15.000 Trying.

00:28:16.000 A lot of fraud.

00:28:18.000 Some other stuff.

00:28:19.000 So, you mentioned that the business itself counts, right?

00:28:23.000 So, let's say you are picking up a storage facility, which is an excellent investment, right?

00:28:27.000 Low maintenance, makes quite a bit of money, people typically keep the subscription going, etc.

00:28:32.000 So, would they be, I guess, a little bit more likely to let you put money into that if it's a cash flowing business?

00:28:40.000 100%.

00:28:40.000 Okay.

00:28:41.000 So, the cash flow of the business, they're going to look at the NOI and all that stuff.

00:28:44.000 They're going to be looking at that stuff too, yeah.

00:28:45.000 Yeah, so that's gonna make it make it make sense for them to you just not do anything. 0.80

00:28:49.000 Okay, so I guess that's good to know that like if you have a good idea they'll fund it but at the same time if you come with some bullshit like oh I want to buy this um I don't know this this failing business here this restaurant that's negative.

00:29:00.000 They're gonna consult with you.

00:29:02.000 It depends you know I mean so they have that conversation with the person and then y'all negotiate you know I mean they're gonna see all your documentation and see if you can afford these type of things you're trying to get into and things of that nature so Okay, but that's probably one of the better loans you would say, if you got your documentation right.

00:29:17.000 Yes.

00:29:17.000 Because they give you such high, you can get such crazy leverage ratios.

00:29:21.000 Yes, 100%.

00:29:22.000 That's like the best route I would take to do.

00:29:24.000 If you want to make some money, bro, that's like one of the best routes I'll take, you know, because you got to think about it, bro.

00:29:29.000 I'm no money in out of my pocket.

00:29:31.000 Yeah, 10% is crazy.

00:29:32.000 That is an amazing model, and especially attaching the model that I have on top of what they're going to give us.

00:29:39.000 I literally can come in here with zero dollars in my pocket and acquire a 1.5 million dollar asset.

00:29:45.000 That's amazing.

00:29:46.000 That's life-changing.

00:29:47.000 Because you can get 100 from the credit cards, that'll be your 10% down payment, and then the SBA gives you the rest and you have no money in the deal. 0.99

00:29:55.000 Damn! 0.92

00:29:56.000 And you can go ahead and wait 18 months and just Well, what's the repayment period like for the SBA loan? 0.99

00:30:01.000 18 months as well?

00:30:02.000 No, no, no, no.

00:30:03.000 They don't give you 0% interest.

00:30:04.000 But it's a small interest.

00:30:05.000 It's not big.

00:30:06.000 They're typically very good.

00:30:07.000 I have an SBA loan.

00:30:08.000 They're good.

00:30:08.000 I got like, it was like 3%.

00:30:09.000 It was low.

00:30:10.000 So crazy.

00:30:10.000 It'd be low.

00:30:11.000 I could buy a property, like a complex with that.

00:30:13.000 Yeah.

00:30:14.000 Easy.

00:30:14.000 You could.

00:30:15.000 You could leverage it.

00:30:16.000 And for real estate, I'm assuming they'd want you to buy real estate if they were going to use that loan.

00:30:21.000 That's the most safest.

00:30:22.000 It's safe.

00:30:23.000 Yeah.

00:30:24.000 Very safe.

00:30:24.000 I'll meet you after this, bro.

00:30:25.000 Deadass.

00:30:26.000 So Bam and Kevin talked about shelf corporations, right?

00:30:29.000 He came in here, gives a podcast as well about some game.

00:30:32.000 How does that work with shelf corporations?

00:30:34.000 Yeah, so right now we got connection to wholesales of shelf corporations.

00:30:38.000 So basically what a shelf corporation is, think of it as just an aged business, an aged LLC. So we were talking about a new business earlier, how we could get a new business funded, right?

00:30:49.000 But the banks reward you and give you higher limit approvals with credit cards, lines of credits, and loans if your business has been established for a longer period of time.

00:31:00.000 So there are businesses out here that people don't use anymore or maybe got dissolved because they couldn't keep up with the yearly annual.

00:31:07.000 So there's so many different ways of why they can be able to want to give it away or not use it anymore, but we can purchase them.

00:31:13.000 So let's just say you had an LLC for 10 years.

00:31:16.000 You haven't paid or you want to sell it or something like that.

00:31:18.000 You're like, I don't care about this LLC. Give me a thousand bucks.

00:31:21.000 You can have my 10-year-old LLC. Now, I don't know why nobody would do that.

00:31:24.000 But there's some people out here that just be getting them dissolved.

00:31:27.000 I could purchase that business from you and transfer it to my name.

00:31:30.000 Now I have a 10-year-old corporation business.

00:31:34.000 I got an LLC now with 10 years on it.

00:31:35.000 With history, yeah.

00:31:36.000 With history.

00:31:37.000 So now I'm going to the bank as a 10-year business versus a one-day-old business.

00:31:41.000 And then now I attach my personal credit that's at $750 with a 10-year-old LLC. And now I'm eligible for access to more capital than I was when I had a business that had been open for a year.

00:31:53.000 So there are some banks that allow you to get lines of credit now.

00:31:56.000 So now I go in a bank and I'm getting a business credit card for $25,000 and I'm getting a line of credit for $50,000.

00:32:02.000 Now I'm walking out the bank with $70,000.

00:32:04.000 Can you explain to the audience the difference between having a line of credit versus having a credit card?

00:32:08.000 Yeah, 100%.

00:32:08.000 So a credit card is where the money is on a card and you swipe it, you can use it as purchases to be able to spend the money.

00:32:15.000 A line of credit, let's just say we got approved for $50,000, I can go in the bank and I can access cash.

00:32:21.000 Meaning, if I got a $50,000 line of credit, I can go into the bank and I can ask for $50,000 cash.

00:32:27.000 But they're going to charge me interest.

00:32:29.000 They're going to be like, alright, we're going to let you borrow this money, cash, all you want.

00:32:32.000 But you got to pay us back extra of what you borrowed.

00:32:35.000 And there ain't no 0% interest with lines of credit.

00:32:37.000 You got to pay interest on this money.

00:32:38.000 Yeah.

00:32:39.000 So it's basically, think of it, guys, as a bank account that isn't really yours, but you can pull from it at any time, but you have to pay back it.

00:32:46.000 Are the interest rates fair depending on the bank?

00:32:48.000 What are we looking at?

00:32:48.000 Or is it based on the market?

00:32:50.000 The market a little bit, but more so your credit report and your credentials.

00:32:54.000 Okay.

00:32:55.000 So the better your credit score, the lower the interest rate.

00:32:57.000 The lower the interest rate.

00:32:58.000 Yep.

00:32:58.000 Okay, what would you say it ranges this week?

00:33:01.000 It'd be like 7 to 12, I'll say.

00:33:05.000 Now, let's say you got a $50,000 line of credit, right?

00:33:08.000 And you borrow 10K, right?

00:33:10.000 You take 10K out, make a purchase, whatever.

00:33:12.000 How long do you have to repay that before interest starts to accrue?

00:33:15.000 Is it 30 days like a credit card or is it immediately?

00:33:17.000 Yeah, so like 30 days, minimum payment back that they're going to acquire.

00:33:21.000 You know what I mean?

00:33:22.000 So you don't got to pay it.

00:33:22.000 So like a charge card, you got to pay the whole balance about it.

00:33:25.000 You don't got to do it like that.

00:33:25.000 It's small increments over time that you got to pay it back.

00:33:28.000 Okay, gotcha.

00:33:28.000 But the interest doesn't hit until after the first month, I guess?

00:33:31.000 Yeah.

00:33:32.000 Okay, so you could, in theory, use your line of credit almost like a credit card where you're paying it in full and not paying interest.

00:33:38.000 Kind of.

00:33:39.000 Yeah, kind of.

00:33:40.000 Almost, yeah.

00:33:40.000 I don't know if it's going to be hard to borrow 50K and put it back in 29 days or do something.

00:33:46.000 Yeah, yeah, yeah.

00:33:46.000 Of course, of course.

00:33:47.000 But technically, yeah.

00:33:47.000 But you could do that if you wanted to.

00:33:49.000 You'd pull out the line of credit, get the cash out, use it, and then come back and pay it back within 30 days without getting interest.

00:33:54.000 Yeah, yeah, yeah.

00:33:55.000 Okay.

00:33:55.000 By the way, So I'm going to give you some more sauce.

00:33:58.000 We've got a hype train going on on Twitch right now.

00:34:00.000 Let's go!

00:34:02.000 You guys got the value here, man.

00:34:03.000 Twitch.

00:34:05.000 So basically it's like a...

00:34:07.000 How do you describe it more?

00:34:09.000 Like a sub-type event?

00:34:11.000 Yes.

00:34:12.000 It's like a sub-event.

00:34:13.000 A bunch of people are subbing and sending bits at the same time.

00:34:16.000 Because we also just announced that you're able to subscribe for free on Twitch using your Amazon Prime account.

00:34:24.000 And yesterday, myself and mine gave away 100 subs.

00:34:27.000 Yeah, I gave some before you came in too.

00:34:29.000 So we gave over 100 subs, guys.

00:34:31.000 We gave away like 200 yesterday.

00:34:32.000 Which, by the way, we should probably, honestly, we should probably go to Twitch here in a bit.

00:34:38.000 Yeah, we can.

00:34:39.000 Yeah.

00:34:39.000 But before we do that real quick.

00:34:40.000 Yeah, yeah, yeah, but keep going.

00:34:41.000 I want to know, bro, so with the money that people are getting, your students, what can they do business-wise to make that money back?

00:34:48.000 Like, for example, e-commerce, or what can they do from your students?

00:34:50.000 Everybody got their own desires and ideas, man.

00:34:52.000 It's hard to tell people what they should do because everybody different.

00:34:55.000 Everybody got different goals.

00:34:57.000 Everybody got different desires.

00:34:58.000 But what's been a safe investment we all know is real estate.

00:35:03.000 That's one of the top things that I've seen people have the most success with.

00:35:06.000 But the main thing people want to do is get you a coach, get you a mentor in the field of business.

00:35:10.000 No matter what business it's going to be.

00:35:12.000 Get you a coach, get you a mentor in the field of business that you want to get in before you get in it.

00:35:17.000 So you come to me to get the money.

00:35:18.000 Now you need to go get you a coach or a mentor in the field of business you want to get in first and then go invest into that business.

00:35:23.000 But real estate, I know a lot of people are doing a lot of car rental stuff right now.

00:35:27.000 They like in that business model.

00:35:29.000 Some people went in and that.

00:35:30.000 But me personally, so like people will ask like, well, what do you invest in?

00:35:34.000 See me, I invest to my personal brand.

00:35:36.000 I invest into advertisement.

00:35:37.000 I invest into myself and information.

00:35:39.000 I pay for mentorship.

00:35:40.000 I pay for coaching.

00:35:41.000 I go to, I pay for events.

00:35:42.000 I pay for marketing.

00:35:43.000 I pay for advertisement.

00:35:44.000 So I put my money back into my business, into my personal brand, and I want to grow that.

00:35:50.000 You know what I mean?

00:35:51.000 And so I wouldn't tell everybody else, like, oh, go invest in your personal brand advertisement.

00:35:55.000 You don't even have offers and things that I have set up.

00:35:58.000 I would rather you, you know, whatever you desire.

00:36:00.000 You know, everybody should have something they may want to get into or might want to get into.

00:36:04.000 Take that idea on now.

00:36:05.000 Since you're going to have access to the money, go get you a coach or a mentor to teach you the blueprint.

00:36:09.000 Follow that blueprint with the access to the capital you get with money that you can leverage.

00:36:12.000 That's a good point.

00:36:13.000 I like real estate because it's safe and everyone knows about real estate.

00:36:16.000 So that's more of a safe bet to put your money into right away.

00:36:19.000 100%.

00:36:19.000 That's fair.

00:36:20.000 We got some chats here?

00:36:22.000 Yeah, we could read some chats.

00:36:25.000 And the point about getting a mentor, it's funny, people get into business and they're like, oh, I'm going to wing it.

00:36:29.000 Nah, bro.

00:36:30.000 You're going to waste money at the same time?

00:36:32.000 Just get a mentor.

00:36:33.000 Yeah, 100%.

00:36:34.000 Why would you try to think about your own thoughts that only took you as far as what you went already?

00:36:39.000 If you knew what to do, you'd already be doing it.

00:36:41.000 Facts.

00:36:42.000 Good point.

00:36:43.000 Yeah, but these are really great ways for guys to get funding and really get things going if they need some capital.

00:36:50.000 Because, I mean, sometimes just getting the money to start is the hardest part.

00:36:54.000 And sometimes just getting that boost in the beginning can really get you going.

00:36:58.000 Because you might have an idea, but you don't want to get the capital when the idea happens.

00:37:01.000 Actually, my buddy took a loan out for his car company.

00:37:05.000 So that's funny.

00:37:06.000 I wonder how he did it.

00:37:07.000 I don't know how he did it, though.

00:37:08.000 You can leverage auto loans, too.

00:37:09.000 You can go get a fleet of cars with no money out of pocket and start your car rental business in a week.

00:37:16.000 That's some sauce right there, bro.

00:37:18.000 We got here.

00:37:18.000 Bread01 says, Fresh, we get it.

00:37:20.000 You don't like it when Myron goes on his them boys rant, but we, the fucking people in chat, love that shit. 1.00

00:37:25.000 Let us learn, man. 1.00

00:37:26.000 Stop being a party pooper.

00:37:27.000 We get it. 0.99

00:37:28.000 We're never going to win, but goddamn, at least let us keep on learning. 0.97

00:37:31.000 Myron, a whole episode talking about everything they have done. 0.98

00:37:34.000 Yeah, I'll do that.

00:37:35.000 It's going to have to be on Cals Club or Rumble only, though.

00:37:37.000 But, you know, honestly, I can't even do it on Rumble.

00:37:39.000 It's going to have to be Cals Club only.

00:37:40.000 I promise I'll give you guys that.

00:37:42.000 We'll go through everything, from central banking to everything else, but that's going to have to be on Cals Club.

00:37:46.000 There's no way.

00:37:47.000 Even on Rumble, it's not safe.

00:37:49.000 I love some gifts for your kids, Myron and Fresh.

00:37:51.000 Did you guys receive them?

00:37:52.000 Yes, Dominicano, I appreciate that.

00:37:54.000 Actually, Frank was playing with one of them earlier, man.

00:37:56.000 Thank you so much for that.

00:37:57.000 For our gifts?

00:37:57.000 Because he's teething right now.

00:37:58.000 Oh, you mean dogs?

00:37:58.000 Yeah.

00:37:59.000 Yeah.

00:38:00.000 Just got hit again with the copyright strikes by Rumble.

00:38:02.000 It's only on the After Hours content.

00:38:04.000 That's from Hidden Dragon.

00:38:05.000 Not sure what is happening.

00:38:06.000 Spoke to Mo this time, but no updates.

00:38:08.000 I saw the link.

00:38:09.000 Do you know who he is?

00:38:10.000 That's probably Spartan something.

00:38:13.000 Hidden Dragon key. 0.96

00:38:14.000 Hit him again. 1.00

00:38:15.000 Hit him again. 0.98

00:38:15.000 And then Noble's here too. 0.98

00:38:17.000 Yeah.

00:38:17.000 Noble's here?

00:38:18.000 Yeah.

00:38:18.000 I saw him.

00:38:19.000 Yeah.

00:38:20.000 What's your X, Noble again?

00:38:21.000 It's not Noble or something like that?

00:38:22.000 Great King Noble.

00:38:23.000 Great King Noble.

00:38:24.000 Great King Noble on X. Hit him up as well.

00:38:27.000 WFNF, that's from Fresh Updates.

00:38:28.000 What else do we got?

00:38:29.000 MM goes, as I need more work trucks. 0.85

00:38:31.000 And guys, if you guys don't mind me doing me a favor, as y'all know, we're in a transition period right now.

00:38:35.000 We're trying to, we're going to stop streaming on YouTube.

00:38:38.000 We're going to be focusing mostly on Twitch.

00:38:39.000 So come on over, guys.

00:38:40.000 Open up a tab, twitch.tv slash Fresh Updates Podcast.

00:38:43.000 It's there.

00:38:44.000 Open up a tab because we're probably going to move the stream on over to Twitch.

00:38:48.000 And we're going to probably do that for maybe this week or whatever.

00:38:50.000 We got to, you know, we were put on timeout for like a day or two.

00:38:53.000 So that kind of derail thing.

00:38:54.000 But we're back, so go ahead and come over to Twitch, guys.

00:38:57.000 Open up another tab.

00:38:58.000 And also, if you're on Castle Club watching or on Rumble, also open up a tab, twitch.tv slash freshandfitpodcast, all right?

00:39:04.000 As I need more work trucks and equipment for my construction company, should I save up and pay cash so I don't have to worry about payments, or should I finance them and bet on myself that I will bring the capital every month?

00:39:14.000 I'll let our guests answer that.

00:39:16.000 Yeah, so me personally, I'm a hard worker, bro.

00:39:20.000 I'm a go-getter.

00:39:21.000 So me personally, I'll go get the money myself and go fund my own trucks and make all the money myself versus trying to have them dip into my money.

00:39:29.000 Because we work hard for our money, bro.

00:39:30.000 We're not going to keep letting somebody else dip into our pockets.

00:39:33.000 That's the purpose of learning.

00:39:35.000 That's the purpose of learning the information I'm telling you now.

00:39:37.000 So you can be able to do these things yourself and you'll have way more capital to yourself when it comes to your business.

00:39:41.000 Okay.

00:39:43.000 What else we got?

00:39:45.000 Mr.

00:39:46.000 Drippy, give the subs. 0.93

00:39:48.000 Shout out to you Mr.

00:39:49.000 Drippy, he's gifting one tier subs to Fresh Fits Podcast Community.

00:39:52.000 Rules as follows goes, love the advice, two questions, would you recommend using business funding for day trading, stocks and crypto?

00:39:59.000 Also FNF think we could get a guest that does day trading for a living? 0.91

00:40:02.000 We did, we did QBanks and also, we did as well.

00:40:06.000 He does, Lamboreau.

00:40:09.000 Do they day trade too?

00:40:10.000 Well, Q, not so much, but Lamboreau does.

00:40:14.000 But we did both of them at the same time.

00:40:15.000 We did an episode with them, bro.

00:40:16.000 Rules as follows.

00:40:17.000 We can bring them back.

00:40:18.000 Yeah, go check that out.

00:40:20.000 But yeah, so they're asking, recommend using business funding for day trading stocks and So some of my members in my groups and stuff like that, they do.

00:40:29.000 They like, I'm here to learn this game so I can get some money if I can go trade with it.

00:40:33.000 They like, man, if I would have had access to more capital, I could be making way more money.

00:40:36.000 They like, I learned the game, I didn't learn the setups, my stuff is hidden, but I just don't got access to enough capital to make a lot of money because I think they'd be conservatively trading.

00:40:44.000 Of course, of course.

00:40:45.000 So they like, man, if I have more capital, I can risk a little more so I can make some more money.

00:40:48.000 I come to you, Smitty, to get the money so I can go and invest it.

00:40:51.000 So this is what I was told about trading.

00:40:52.000 The more money you put, the more money you could win off that lump sum.

00:40:58.000 However, if you lose, then it's like, it can hurt a lot.

00:41:02.000 It's literally a high risk, high reward.

00:41:05.000 Because I know Q, he puts like 100k plus on his trades. 0.96

00:41:08.000 And I'm like, damn, he makes like a million, two million off of his trades. 0.99

00:41:11.000 I'm like, damn, bro. 0.99

00:41:11.000 But he spent a lot of money up front. 0.99

00:41:13.000 And he'll lose too.

00:41:14.000 So it's give and take.

00:41:16.000 Okay.

00:41:17.000 Anything else?

00:41:18.000 Two more? 0.74

00:41:20.000 Okay.

00:41:21.000 All right.

00:41:23.000 Guys, get your questions for Smitty.

00:41:26.000 Go ahead.

00:41:26.000 Yeah, just to introduce, too, the model that I'm transitioning to now.

00:41:30.000 So first, I was teaching people about how to clean the credit, how to build the credit, and then get access to your first $25,000.

00:41:35.000 But now...

00:41:36.000 People are asking me, like, how do I start the lending business, the funding company that I run myself?

00:41:41.000 How do someone else get to start that?

00:41:43.000 So now my main focus is now corely teaching people how to start their own lending and funding business because not a lot of people that look like me that own these things or run these type of companies.

00:41:53.000 So now I want to open up the floodgates for everybody to learn exactly how to start, scale, and grow their own funding business.

00:41:59.000 So now I want to teach them the model of how to set it up, a system to use.

00:42:03.000 Get access to the banking reps.

00:42:05.000 And then use the same strategies I use to get people funded to start their own business to make anywhere between $5,000 to $25,000 per client.

00:42:11.000 So that's something new I'm doing.

00:42:14.000 Especially, I got a five-day virtual mastermind coming up.

00:42:17.000 And basically, what I'm going to teach people is the whole blueprint, man.

00:42:20.000 How to start it.

00:42:20.000 How to grow it.

00:42:21.000 How to get the high limit credit cards.

00:42:23.000 How to be able to invoice your clients.

00:42:25.000 How to get the contracts.

00:42:25.000 How to be able to do all these things and market your business so you can run your own funding company and do the same thing that I do.

00:42:31.000 To me, it sounds like it could be a completely online business.

00:42:34.000 No overhead.

00:42:35.000 Completely online business, no overhead.

00:42:37.000 One of the best business models I've ever seen.

00:42:39.000 So people can do this theoretically while having a real job.

00:42:41.000 A hundred percent.

00:42:42.000 A regular job.

00:42:42.000 One of my students right now, American Income, just interviewed one of my students.

00:42:46.000 He made about a half a million dollars in the last five months.

00:42:49.000 He got a 9 to 5.

00:42:50.000 Wow.

00:42:50.000 He said he's about to transition to quit now, but he's just like, bro, I did this all while working a 9 to 5.

00:42:54.000 And I'm like, wow, bro, you made a half a million dollars working a 9 to 5.

00:42:57.000 That's amazing.

00:42:57.000 That's great.

00:42:58.000 Because it's remote like that.

00:42:59.000 Yeah, you can literally do it in between on your break or whatever it may be.

00:43:02.000 So this is like a great thing to do as a side hustle almost.

00:43:05.000 Yeah, but I'm doing four times.

00:43:07.000 Yeah, yeah, yeah.

00:43:07.000 Of course, of course.

00:43:08.000 If someone has a regular job.

00:43:09.000 Yeah, yeah.

00:43:10.000 Hype Train Level 2.

00:43:11.000 Let's go! 1.00

00:43:12.000 Choo-choo, motherfucker! 1.00

00:43:14.000 Let's go! 1.00

00:43:15.000 Chris, you are so corny, man.

00:43:16.000 I know, bro.

00:43:16.000 I love it, though.

00:43:17.000 I love it, though.

00:43:18.000 It hurts.

00:43:18.000 What's the next level up after the train?

00:43:20.000 Huh?

00:43:20.000 What's the next level up after the train?

00:43:22.000 Level two.

00:43:23.000 Level two?

00:43:23.000 We're at right now.

00:43:24.000 We gotta get to level two, man.

00:43:25.000 We gotta get to level two.

00:43:26.000 No, we're there right now.

00:43:27.000 Level three.

00:43:28.000 Level three.

00:43:28.000 Should we just move over to Twitch now?

00:43:30.000 If you want.

00:43:31.000 Yeah, we might as well.

00:43:33.000 Yeah, guys, so we're going to stay live on Rumble, though, guys, so don't get it twisted.

00:43:36.000 We're still going to be live on Rumble.

00:43:37.000 We've got most of y'all over there on Rumble, like 3,000 plus y'all, and then we've got another 1,000 on YouTube, then a couple hundred on Twitch.

00:43:43.000 So, guys, we're going to come on over, switch over to Twitch.

00:43:44.000 We're going to end the YouTube stream here.

00:43:46.000 Come on over, guys, right now.

00:43:47.000 Twitch.tv slash FreshFit.

00:43:48.000 Let's drop the link in there, and then we'll end the YouTube stream.

00:43:52.000 Yeah, just the YouTube one.

00:43:53.000 Yeah, yeah.

00:43:53.000 We'll stay live on Twitch and Rumble, of course.

00:43:55.000 Rumble's home base.

00:43:57.000 So yeah, guys, let's get to level three.

00:43:59.000 Go on, Fresh.

00:44:01.000 So, I guess, you asked a question earlier about getting business funding for certain businesses.

00:44:07.000 What about e-commerce?

00:44:09.000 Is that a good business, you would say, for funding, to buy products?

00:44:12.000 Yeah, yeah.

00:44:12.000 Online?

00:44:13.000 I'm gonna be honest, bro.

00:44:13.000 It's really any business model.

00:44:16.000 That part kind of don't matter.

00:44:17.000 The struggle is the access to the capital.

00:44:20.000 So just nipping that part in the bud helps so many people with any kind of business that you have.

00:44:25.000 But yes, I've seen some of my students leverage it for e-commerce.

00:44:28.000 But just for everybody, it's literally any business, bro.

00:44:33.000 Every business needs money.

00:44:35.000 Every business needs money to start up.

00:44:37.000 Every business needs money to grow and scale and get to the next level.

00:44:40.000 Every business needs money for marketing.

00:44:43.000 Why would you leverage your own money when you can leverage somebody else's money and make money off somebody else's money?

00:44:48.000 And we make money when we spend money.

00:44:50.000 When you spend cash, you don't make nothing in return of every dollar you spend.

00:44:54.000 When I spend money, I get something in return of every single dollar I spend in my life.

00:44:57.000 That's how I travel for free.

00:45:00.000 Sometimes I pay my card note off my rewards points.

00:45:02.000 That's how I get free hotels.

00:45:05.000 I get so much stuff off my rewards points that it's crazy just because I use credit instead of cash.

00:45:12.000 Yeah, same here.

00:45:13.000 I've always told people using cash is probably one of the stupidest things that you can do in today's day and age with all the credit perks that you get with these credit cards, right?

00:45:21.000 And then like, you know, the 18-month APR, you know, 0% APR, you know, the rewards, you can literally like make a bunch. 0.92

00:45:28.000 You can make money doing that.

00:45:29.000 Yeah, you can't.

00:45:30.000 Especially when you're like using these cards the way that you because do you when you liquidate the well some cards let you get points off and then some don't when you liquidate the cards when you use them Yes, but technically yes when it my strategy you do you get the rewards.

00:45:42.000 Oh really?

00:45:43.000 Oh because use that intermediary company which uses It charges the card is a charge.

00:45:48.000 It's like a charge So then the points get benefit.

00:45:51.000 So you're literally paying yourself twice.

00:45:52.000 Because you're paying yourself off the credit card and then you're also getting the rewards that come from said credit card.

00:45:56.000 That's really good, bro.

00:45:58.000 Seriously.

00:45:58.000 He's a master with the dough, bro.

00:46:00.000 And then the way I do it too, so certain cards got different perks.

00:46:04.000 So my American Business Express Platinum card is unlimited.

00:46:08.000 But what the perk they have on there is like 4 to 5x every dollar you spend on advertisement that they give you.

00:46:14.000 Oh, yeah.

00:46:14.000 Bro, when I spend $50,000, $100,000 on advertising every month, they give me 4x, 5x, I'm getting $400,000, $500,000 reward points every month.

00:46:24.000 Damn, automatically. 0.97

00:46:25.000 Every million, I'm getting $10,000. 0.99

00:46:27.000 Bro, that's so vital.

00:46:30.000 You know what I mean?

00:46:31.000 And $400,000 points, I'm trying to figure out in dollars what that is.

00:46:34.000 That's $4,000.

00:46:35.000 Yeah.

00:46:36.000 Free money.

00:46:37.000 For money that you were going to spend anyway.

00:46:39.000 Anyway.

00:46:39.000 Yeah.

00:46:40.000 Imagine me doing that for three years and imagine somebody not even knowing it.

00:46:43.000 Yeah.

00:46:44.000 Big difference.

00:46:45.000 Yeah.

00:46:45.000 That's a lot of money that you're getting just off of.

00:46:47.000 And that's a tax write-off.

00:46:48.000 It's a benefit to your business.

00:46:49.000 You're growing, etc.

00:46:50.000 And you're getting free money in the process. 1.00

00:46:52.000 Versus if you had just used cash or a debit card like an idiot. 1.00

00:46:55.000 It's finished. 1.00

00:46:56.000 Yeah, you would get no benefit.

00:46:57.000 So you've been doing this business for a while now.

00:46:59.000 When do you know it was going to blow up or when did it blow up for you?

00:47:02.000 I think it started blowing up when the social media started getting some of the clips of some of the things I was saying and it was going viral.

00:47:10.000 You know, and then also word of mouth.

00:47:12.000 You know what I mean?

00:47:13.000 A lot of my students, I've seen them in the chats on YouTube a lot, but a lot of my students are word of mouth.

00:47:20.000 They really push for me, bro.

00:47:22.000 They like...

00:47:23.000 Yo, everybody got to get in.

00:47:24.000 My whole family got to get in with me.

00:47:26.000 My friends got to get in with me.

00:47:27.000 My friend, my uncle, everybody.

00:47:29.000 If they see somebody, they're conversating, they're mentioning me to get into my thing.

00:47:32.000 So just going viral on social media, word of mouth with the people that already got results from me has been in my growth spurt pretty fast.

00:47:40.000 Because again, we don't learn this in school.

00:47:41.000 So I think for most people, this is like a revelation because now with this information, I can get a business like that.

00:47:48.000 100%, bro.

00:47:49.000 So that's really good.

00:47:49.000 I know I didn't learn nothing of this stuff in school.

00:47:52.000 At all.

00:47:52.000 So what would you say, like, for your average student in the beginning, right, working with you or whatever, how much are they getting off of their, you know, their first, I guess, funding run?

00:48:01.000 Yeah, so, wait, so two different things.

00:48:04.000 When they start their own funding business or they're getting funded for themselves?

00:48:06.000 Funding for themselves with their business, whatever it may be, and then you could go ahead and save for the funding business.

00:48:10.000 So, if they meet the requirements on a personal credit score in the LLC. 2K in credit, 700 credit score, LLC properly structured, and I think the fourth thing you said is have at least a car or a home loan.

00:48:23.000 No, you don't have to have those.

00:48:25.000 I would rather you have seven to eight, nine accounts on there.

00:48:28.000 Okay.

00:48:28.000 So it could be a little drawn out, built out.

00:48:30.000 Okay.

00:48:31.000 But it could be anything, right?

00:48:33.000 Yeah, for the most part.

00:48:34.000 Okay.

00:48:35.000 But the better the account, the stronger the report going to be, of course.

00:48:39.000 So, anywhere between $100,000 to $250,000 is what someone's going to get when they meet those requirements.

00:48:46.000 Out the gate, no documentation.

00:48:48.000 You come to us, that's around the average everyone's going to get.

00:48:52.000 Now, if you've got a better credit score, you've got documentation or something, or you've got a longer, older business, now we're looking $250,000 to $400,000.

00:49:00.000 Wow.

00:49:02.000 And this is between how many credit cards?

00:49:08.000 I'm assuming they're gonna have to need a few, right?

00:49:09.000 Yeah, yeah.

00:49:10.000 Like three to five maybe?

00:49:11.000 More.

00:49:12.000 I think I got 29 credit cards right now.

00:49:15.000 You know what I mean?

00:49:16.000 I'm in this deep, so I'm not gonna say everybody else is not gonna do that.

00:49:19.000 But for the beginner person, you're gonna probably get them that first 100k with three?

00:49:22.000 About six.

00:49:22.000 Six cards.

00:49:23.000 About six different credit cards.

00:49:24.000 About six.

00:49:24.000 You'll probably get $100,000 with six.

00:49:26.000 Okay.

00:49:26.000 And I think it's important for the audience to know because some people get scared.

00:49:29.000 They're like, well, hold on.

00:49:30.000 Doesn't it hurt my credit when I get so many credit cards at once?

00:49:32.000 Can you kind of explain to them how credit reporting works and everything?

00:49:35.000 So cool thing about the way we use it and we leverage it is we're getting business credit cards.

00:49:39.000 So you have a personal credit report and you got a business credit report.

00:49:42.000 The way we get them is business credit cards, but I told you, we personal guarantorum.

00:49:46.000 So they're going to pull our personal credit for the approval.

00:49:49.000 But all of the cards that we're going to get are going to report to our business side.

00:49:53.000 So now, I don't have to worry about the utilization when I'm investing the money on the business side.

00:49:58.000 Because on the personal side, if you use money off your credit card, the utilization hits you, you tank your credit score, it goes all the way down.

00:50:05.000 The way we use it is we leverage the business credit cards because when we use our money on the business side, our personal credit still stays good and we can continue to go get access to capital for our business.

00:50:14.000 So they report on the business side so we don't have to worry too much about utilization.

00:50:18.000 And what about the, like, if you're getting, because you're getting like, you know, a couple of cards in quick succession within, I'm assuming within 48 hours of each other or something like that, right?

00:50:26.000 72 hours.

00:50:27.000 Will that all count as one credit inquiry?

00:50:29.000 No.

00:50:30.000 Uh-uh.

00:50:30.000 So, but I'll give you a breakdown of how you got to do it strategically in order to do it the way that I do it.

00:50:35.000 Okay.

00:50:35.000 So it's three credit bureaus, Experion, TransUnion, and Equifax, right?

00:50:40.000 We have to go to certain banks that pull different bureaus so that we strategically can go get the money.

00:50:46.000 So for example, I'll go to one bank that pulls TransUnion, I'll go to another bank that pulls then Experion, and I'll go to another bank that pulls Equifax.

00:50:53.000 Equifax, yeah.

00:50:53.000 So now I got three different credit card approvals for $20,000 each, but to the banks, it only looked like I got one pull because each bank have a certain credit bureau that they pull from.

00:51:05.000 Interesting.

00:51:05.000 You get what I'm saying?

00:51:06.000 I thought if you did like all your, well this is for business credit so this is different, but I figured like if you, because on the personal side if you apply for credit cards like a couple of them at the same time in a short succession people assume you're you know shopping for rates or whatever and it counts as one credit inquiry, but for business I guess is different.

00:51:23.000 It does, each one does show up.

00:51:24.000 Each one does shows up on the inquiry, but this is this is how you would do it even on personal side.

00:51:28.000 Okay.

00:51:28.000 You don't want to start, you shouldn't start off trying to get funding with a lot of inquiries.

00:51:32.000 Like, the way that I teach people how to build their credit reports out, we have zero inquiries.

00:51:36.000 All the accounts that we get reported to your credit report, we don't want to get inquiries.

00:51:39.000 Some people do that wrong and they go get all these stuff and they got a whole bunch of inquiries, now you can't go get funded because you got too much hungry and it's on your credit report.

00:51:46.000 I think people didn't see what you just said earlier about different banks.

00:51:50.000 He's saying go to different banks with different credit companies that they report to so you don't get recognized by it.

00:51:57.000 Dude, that's some results right there, bro.

00:51:59.000 Bro, definitely.

00:52:00.000 That's why I love this stuff, but I'll go a little bit deeper on that.

00:52:04.000 If I went to got three different credit cards, that's to say I get $20,000 each in each credit bureau, now I can go do what?

00:52:11.000 I want y'all to answer.

00:52:12.000 I don't do what?

00:52:13.000 Now what I'll go do?

00:52:14.000 So we got three different, yeah.

00:52:18.000 I mean, you could hypothetically kind of start it back up again.

00:52:21.000 Yeah, do it all over again.

00:52:23.000 I'm going to do it again.

00:52:24.000 I'm going to go to another bank that poor Experian, another bank that poor TransUnion, another bank that poor Equifax.

00:52:28.000 But now I got six credit cards, let's just say.

00:52:30.000 And let's just say they all gave us $20,000.

00:52:32.000 So we got $60,000 the first time, another $60,000.

00:52:36.000 And now we got $120,000.

00:52:38.000 But on the credit report, we only got two inquiries in each bureau.

00:52:42.000 So each bank, it only looks like we only got two inquiry pools.

00:52:46.000 We don't look like we that thirsty for money yet still.

00:52:49.000 Yeah.

00:52:49.000 But we didn't went and got six different credit cards and we got 120,000.

00:52:52.000 Yeah, yeah, yeah.

00:52:53.000 And what could we go do now?

00:52:54.000 You could do it again if you want to hypothetically.

00:52:56.000 Theoretically, yeah, yeah.

00:52:57.000 Yeah, so...

00:52:58.000 And then yeah, and then you can also do the lines of credit like you were describing before.

00:53:02.000 So interesting.

00:53:03.000 Clever, bro.

00:53:03.000 Yeah, yeah.

00:53:04.000 No, for sure.

00:53:05.000 And I guess you just have to know which banks work with which credit bureaus to know where to...

00:53:10.000 How long would you say this process lasts?

00:53:13.000 Like, is this like a 48, 72-hour thing?

00:53:15.000 Is this like a week-long thing to do this?

00:53:18.000 Yeah, so like seven days, seven to ten days.

00:53:20.000 Okay, and you should be able to get all your money in that time.

00:53:22.000 Yeah, about seven to ten days.

00:53:24.000 But you know what's crazy?

00:53:24.000 A lot of billionaires and millionaires use a strategy to get funding.

00:53:27.000 They do, bro.

00:53:28.000 And they don't tell anybody because, like, it's like, if you know, you know a thing.

00:53:30.000 But you're supposed to know people firsthand.

00:53:32.000 I like that, man.

00:53:33.000 Yeah.

00:53:34.000 So we covered a lot today.

00:53:36.000 What's up with you for updates?

00:53:38.000 What's your next event?

00:53:39.000 What's your next, like, I guess, meetup or coaching?

00:53:41.000 Yeah.

00:53:42.000 So my next big event, right, is I'm hosting a big five-day virtual mastermind.

00:53:47.000 So I want to take everybody.

00:53:49.000 This is for everybody.

00:53:50.000 I want to take everybody.

00:53:50.000 And we're going to put the link in the description, right?

00:53:53.000 I want to take y'all for five days.

00:53:55.000 Monday, Tuesday, Wednesday, Thursday, and Friday.

00:53:57.000 And I want to teach y'all these things step by step.

00:54:00.000 Because coming over here for an hour is good.

00:54:02.000 Get you the idea.

00:54:03.000 You can be like, dang, that sounds good.

00:54:04.000 That sounds amazing.

00:54:05.000 But you've got to come in here and really learn step by step how to do these things.

00:54:08.000 How to set it up step by step?

00:54:09.000 Which banks do we need to go to?

00:54:11.000 What do we need to put on our applications?

00:54:12.000 How do we get access to the lenders and stuff like that?

00:54:15.000 So I set up a five-day virtual mastermind that I'm going to teach people over for five days how to start, scale, and grow.

00:54:21.000 They sell to get $250,000 and or start the business so they can actually make money.

00:54:26.000 So it don't got nothing to do with your credit.

00:54:28.000 Now you're going to start a business to be able to make your first $10,000, $20,000.

00:54:31.000 And I want to be able to invite people to be able to teach them all this stuff with that virtual mastermind.

00:54:36.000 Cool.

00:54:36.000 That's fire.

00:54:37.000 It's completely free so the guys can learn.

00:54:38.000 That's fire.

00:54:39.000 No, hold on.

00:54:39.000 That's not free.

00:54:40.000 Oh, my bad.

00:54:40.000 My bad.

00:54:41.000 My bad.

00:54:41.000 I thought you were saying that.

00:54:42.000 Okay.

00:54:42.000 Yeah, so before my 30th, my 31st birthday is coming up, so I'm going to allow people to get in for like little as 31 bucks.

00:54:48.000 Okay.

00:54:49.000 Pretty much free. 1.00

00:54:50.000 Goddamn. 1.00

00:54:51.000 31 bucks. 0.99

00:54:51.000 That's nothing, bro. 0.99

00:54:52.000 Yeah, that's nothing.

00:54:53.000 Pretty much free. 1.00

00:54:54.000 Goddamn. 0.99

00:54:55.000 Cool. 0.98

00:54:56.000 Is there any other chats that we read?

00:54:59.000 That's a few here.

00:54:59.000 Then we'll close this thing out.

00:55:00.000 No, this was really informative, bro.

00:55:02.000 Holy.

00:55:02.000 But you know what it was?

00:55:03.000 I saw him on so many platforms.

00:55:05.000 I was like, bro, this guy's legit.

00:55:06.000 You've been everywhere, bro.

00:55:08.000 And more.

00:55:09.000 They be wanting to hear, man.

00:55:10.000 A lot of people want to hear the layout.

00:55:12.000 So we've been getting busy, man.

00:55:15.000 No, it's important stuff, man.

00:55:16.000 And then the beauty is that you can do this and still have a regular job.

00:55:19.000 You can literally do it.

00:55:20.000 This is an internet-based business.

00:55:24.000 Wait, no overhead.

00:55:26.000 Jake the Mullet, cheered 100 bits.

00:55:27.000 Thank you so much.

00:55:28.000 Phoenix goes, re-subscribe with Prime.

00:55:29.000 Shout out to you.

00:55:30.000 You've been subscribed for 18 months.

00:55:31.000 And then Jake the Mullet, 100 bits.

00:55:32.000 Thanks, bro.

00:55:33.000 Appreciate that, man.

00:55:35.000 Anything else?

00:55:35.000 Oh, Mr.

00:55:36.000 Drippy, one community sub, Boosted Coyote, subscribe with Prime, Senpecobra, Invaders, and Andre Zias.

00:55:44.000 All of you guys subscribe with Prime.

00:55:46.000 Shout out to y'all.

00:55:47.000 Do you recommend moving personal credit card debt to business credit cards to lower personal utilization?

00:55:51.000 Good question, my god, Wallace.

00:55:54.000 100%.

00:55:54.000 I always teach people this is a strategy, how to leverage, to get your utilization down.

00:56:00.000 Yeah, to get your score up, too.

00:56:01.000 Yep, to get your score up.

00:56:02.000 So a lot of people have credit card debt.

00:56:05.000 Best thing to do is build your business credit, get an approval in your business name, strictly in your business name, nothing to do with your personal.

00:56:11.000 Liquidate the money off your business credit card to pay down your personal credit card utilization.

00:56:16.000 Wait till your credit score go up, then go get business funding and transfer the debt from the personal side to the business side.

00:56:20.000 Oh, okay.

00:56:21.000 Wow.

00:56:22.000 Yeah.

00:56:23.000 Question.

00:56:23.000 Let's say someone has a pretty bad credit score.

00:56:25.000 Could it come to you to help repair as well?

00:56:27.000 Yeah.

00:56:28.000 So a lot of people got bad credit scores, man.

00:56:30.000 So I got to help y'all.

00:56:31.000 This is going to help y'all.

00:56:33.000 Technology is crazy in today's time.

00:56:35.000 So we have a Metro 2 AI software that does it for you.

00:56:41.000 So basically what it does is it imports your credit report.

00:56:43.000 It pulls up all your negative things that's negatively hurting you right now, right?

00:56:46.000 And it imports it into the AI software.

00:56:49.000 The AI software detects your negative items and then customizably drafts you up a dispute letter to send to Experion, TransUnion, Equifax.

00:56:58.000 So they can start disputing all the negative things off your credit report if you got bad credit.

00:57:02.000 So this is what the software I teach my people how to use.

00:57:05.000 I teach them how to use this AI software to be able to generate these letters for them.

00:57:08.000 And they can do it themselves.

00:57:09.000 They don't got to pay nobody a thousand dollars or five hundred dollars.

00:57:11.000 I teach you how to do it without them.

00:57:14.000 Yeah.

00:57:14.000 Boom.

00:57:15.000 Alright.

00:57:16.000 That's good stuff, man.

00:57:18.000 What else?

00:57:18.000 Okay, Mario, not sure if you remember me from CC's Zoom call.

00:57:22.000 I want to start my own exotic car rental business, but I have too much debt under my name.

00:57:26.000 Had 200K of debt under my name, dropped it down to 100K. Would you say funding with Smitty will help get my car rental business started or wait and still work on getting rid of my debt?

00:57:34.000 What do you think, Smitty, with that?

00:57:35.000 He wants to do an exotic car rental business, but he had 200K of debt under his name, dropped it down to 100K. Yeah, so...

00:57:42.000 um you you would probably want to leverage your business name to get some other debt so you're going to take on a lot of debt when you got cars that's just that's just what he wants to do exotic cars yeah so your your debt gonna rise regardless of what you do that ain't going nowhere you're getting 200 000 pieces of debt every car you get you know what i mean so but what i would do is i would do this i'll give you a play that you can run right now bro if you got at least 700 credit score you need to go to bank of america Bank of America allows you to personally guarantee auto loans,

00:58:10.000 but they allow you to get three or four auto loans in your business name with zero dollars down.

00:58:14.000 Wow!

00:58:15.000 If you have a 700 credit score and a properly structured LLC. That's why it's so important to have this credit score.

00:58:19.000 You can leverage this thing for anything.

00:58:21.000 We can go to Bank of America.

00:58:22.000 They allow you to get three or four auto loans in your business name, no money down, and acquire multiple auto loans in that same sequence for only one hard inquiry pool.

00:58:30.000 So that's a strategy I would use to be able to go get four auto loans.

00:58:32.000 I didn't even know that.

00:58:33.000 Bank of America?

00:58:34.000 Bank of America.

00:58:34.000 See, I don't use them, so I even know.

00:58:35.000 Yeah.

00:58:36.000 That's crazy.

00:58:37.000 So boom, right off that alone, that one tip you just gave, people can literally start an auto business if they wanted to.

00:58:41.000 That's how I started mine before I exit out of it.

00:58:44.000 But that's how I started mine.

00:58:45.000 I got four auto loans, no money down.

00:58:46.000 I then started making money.

00:58:47.000 The rental game is tough.

00:58:49.000 Yeah.

00:58:49.000 Especially Miami.

00:58:50.000 Y'all in Miami, so.

00:58:51.000 Yeah, yeah.

00:58:52.000 Were you doing this up in Illinois?

00:58:53.000 I was doing it up in Illinois.

00:58:54.000 Okay.

00:58:54.000 It was so tough.

00:58:55.000 Yeah, yeah, yeah.

00:58:57.000 You know.

00:58:58.000 It takes a lot.

00:58:59.000 I took some L's.

00:59:00.000 I took some L's.

00:59:00.000 Yeah, yeah, yeah.

00:59:02.000 No, I mean, because I remember Turo was going crazy during the pandemic, but now it's like auto rental.

00:59:07.000 It's tough, bro.

00:59:08.000 It's a very competitive business.

00:59:09.000 Even here in Miami, it's tough, bro.

00:59:10.000 Yeah.

00:59:10.000 I got friends that closed their businesses down two months ago.

00:59:14.000 Yeah, man.

00:59:15.000 I took some L's.

00:59:16.000 I took an L in trucking.

00:59:17.000 I took an L in Airbnb.

00:59:19.000 I took some L's in the car rental business space.

00:59:21.000 Man, I took some big L's, bro.

00:59:22.000 I'll tell you this, though.

00:59:23.000 All your L's, bro.

00:59:25.000 Sum up to what?

00:59:26.000 You know what?

00:59:28.000 Maybe people can learn from this because some people have thought about getting into the auto rental.

00:59:32.000 What were some of the mistakes you would say you made from the auto rental business?

00:59:37.000 Yeah, so I went straight to exotic and then I didn't understand the insurance game part of it.

00:59:44.000 So a lot of people who are...

00:59:45.000 Well-vetted into the car window industry.

00:59:47.000 They know how to leverage the right insurance setups the perfect way in order to protect themselves.

00:59:52.000 Not me.

00:59:52.000 I made some money the first month.

00:59:55.000 It was good.

00:59:55.000 $8,000.

00:59:56.000 $9,000.

00:59:57.000 Cool.

00:59:57.000 My car not only $1,800.

00:59:59.000 $2,000.

00:59:59.000 Okay, cool.

01:00:01.000 The one after that, crashed.

01:00:02.000 Oh man.

01:00:03.000 Gotta get it fixed and stuff like that.

01:00:06.000 And that's still downtime.

01:00:08.000 You could be making money the whole time.

01:00:10.000 So I had the Corvette C8, brand new.

01:00:14.000 And now I'm waiting on the parts.

01:00:16.000 But the insurance still got to get paid.

01:00:18.000 Cardinals still got to get paid and all this stuff.

01:00:19.000 I'm like, hey, man, I'm losing money every day.

01:00:22.000 So it took two, three months.

01:00:23.000 As soon as I get the car back, it crashed again.

01:00:25.000 I'm like, oh, no.

01:00:27.000 This is crazy.

01:00:28.000 Yeah, because you got fast cars and they drive reckless, right?

01:00:30.000 Yes, they drive reckless.

01:00:31.000 They don't care about those stuff.

01:00:33.000 So, um...

01:00:34.000 You know what's funny?

01:00:35.000 The best car I've seen perform is the Rolls-Royce Cullinan.

01:00:38.000 Because it's going to pull up, look cool, and then just give it back to you.

01:00:42.000 That's kind of true.

01:00:43.000 They're not...

01:00:43.000 There's some people there.

01:00:45.000 There's some people there, but not really.

01:00:46.000 You really ride smooth in the Rolls-Royce.

01:00:48.000 The Lamb truck and the Lambos and all, they trying to zoom through out of the crazy. 0.90

01:00:52.000 I also went and got like four auto long...

01:00:54.000 I used a play.

01:00:56.000 This is a cool play for everybody, too.

01:00:58.000 I love giving game, man.

01:01:00.000 It's a Linder called Lightstream.

01:01:03.000 Lightstream will allow you to get an approval as an auto loan, but what they do is they wire you to money cash.

01:01:11.000 Wait, really?

01:01:12.000 Bro.

01:01:12.000 This was the...

01:01:14.000 When I learned this...

01:01:14.000 So you can go procure the car...

01:01:17.000 I'mma tell you.

01:01:18.000 I'mma tell you.

01:01:19.000 I'mma tell you.

01:01:19.000 So they gave, they sent me a wire.

01:01:21.000 So I got proof like $80,000, not like $500,000, but like up to $100,000.

01:01:25.000 I got proof of $80,000.

01:01:26.000 So I thought I was going to have to like get a proof of $80,000 and go get the auto loan.

01:01:29.000 Like they pay them.

01:01:30.000 They said, all right, your money will be in your bank account in two days.

01:01:32.000 I'm like, oh shoot, what do you mean?

01:01:34.000 They want to see your wire for $80,000 in two days.

01:01:36.000 Two days come, a wire come in my bank account.

01:01:38.000 Oh my god, this is crazy because now, instead of me going to get one auto loan for $80,000, I went to go buy like six cash cars for $10,000 each.

01:01:47.000 And I went the economy route.

01:01:49.000 So I had like, you know, like some vans for Uber drivers.

01:01:52.000 I was just about to rent my vans out to Uber drivers.

01:01:55.000 I was getting some little Honda Sonata. 1.00

01:01:56.000 Did you say fuck the exotics once people started crashing? 0.99

01:01:57.000 Yeah, I tried to go this route, which was a little better, a little smarter. 1.00

01:02:00.000 But then I moved to Atlanta.

01:02:02.000 I let my family take over the business and then...

01:02:05.000 Yeah, it didn't go that good.

01:02:06.000 Do you think if you had kept running it and you would have done the more economic vehicles, it would have been good?

01:02:11.000 I would have did better during the economic vehicles because they're paid off.

01:02:15.000 They're no risks.

01:02:16.000 And then now once they're paid off in full, I'm no money in.

01:02:21.000 All the rest is profit.

01:02:22.000 It don't matter what happened to the cars.

01:02:24.000 Also, insurance is way cheaper for a paid-off car.

01:02:27.000 And then you get more consistency.

01:02:29.000 With exotic cars, yeah.

01:02:31.000 Everybody can't afford that $1,500 a day, $200 a day.

01:02:33.000 I've been in Miami for 10 years now.

01:02:35.000 I've seen companies come and go, and it's because they crash.

01:02:38.000 Once they crash, downtime, you're paying the car, you're paying for insurance, it kills you.

01:02:42.000 So you would say the things you learned were try to stay away from the exotic cars unless you got some kind of insurance plug?

01:02:49.000 It's a couple of variables.

01:02:51.000 And the economic car route might be the more sustainable way to go.

01:02:55.000 If you're going to start small, build your way up.

01:02:57.000 Exotic is what you build up to versus going right off rip.

01:03:00.000 If that's your foundation, economic cars, then it doesn't work.

01:03:05.000 For example, if it's going to be those type of cars that are lower tier, if they crash that you're saying, it doesn't really matter.

01:03:10.000 And if you pay them off, even better. 1.00

01:03:12.000 But you do exotic cars, right away, bro, you do one crash, you're fucked. 1.00

01:03:15.000 You're fucked, bro. 1.00

01:03:16.000 One crash. 1.00

01:03:16.000 That's all it takes. 1.00

01:03:17.000 It's crazy, yeah.

01:03:19.000 Yeah.

01:03:20.000 Okay.

01:03:20.000 That's smart, actually.

01:03:21.000 Yeah.

01:03:22.000 Really smart.

01:03:22.000 Let's get...

01:03:23.000 What else do we got?

01:03:23.000 We got any more?

01:03:24.000 Yep.

01:03:29.000 And then, Kenneth, where can I find your services?

01:03:32.000 Link's down below as well, if you want to find them.

01:03:34.000 But yeah, all my social medias, man.

01:03:37.000 SmittyTheGoat on YouTube, SmittyTheGoat on Instagram, SmittyTheGoat on TikTok.

01:03:42.000 And most of the time, I just tell people to DM me the word.

01:03:45.000 Well, right now, you can DM me the word on my Instagram, B-Day, and I'll send you a free masterclass.

01:03:48.000 Bill, pull up his Instagram real quick.

01:03:49.000 There's any links down below.

01:03:50.000 Just give him a shout-out.

01:03:53.000 And then, any more?

01:03:58.000 Rumble gave me a copyright strike with a whole bunch of claims.

01:04:00.000 How can I solve this?

01:04:02.000 And this is him saying...

01:04:03.000 With overdose?

01:04:04.000 With overdose.

01:04:05.000 He's saying those are the strikes.

01:04:08.000 Okay.

01:04:08.000 Send Mo your channel.

01:04:10.000 We got you, bro.

01:04:12.000 What's the best personal credit card?

01:04:13.000 This is Mr.

01:04:14.000 Drippy.

01:04:14.000 Yeah.

01:04:15.000 Any opinion?

01:04:17.000 Navy Federal Credit Union and PSECU. Can anyone get a Navy Credit Union?

01:04:22.000 We got strategies to get you in, but usually they typically say, you got to be in the army and all that stuff, but man, we get in all the time.

01:04:28.000 Okay.

01:04:28.000 We got people in our group that have codes to invite people in.

01:04:31.000 Yeah.

01:04:32.000 Gotcha.

01:04:33.000 Yeah.

01:04:33.000 If you got a member as a family member, like that's military stuff.

01:04:36.000 Everybody's cousins in my group.

01:04:37.000 Yeah, yeah, yeah.

01:04:38.000 We found it over here.

01:04:39.000 There's ways to get it.

01:04:40.000 Hey, KnowHow, and also, if I'm not mistaken, are they still, do they still offer, like, if you over, there's no ATM fee?

01:04:47.000 No, I don't believe so.

01:04:48.000 I think they do.

01:04:49.000 I think Navy still has that.

01:04:50.000 They possibly do.

01:04:51.000 I haven't checked.

01:04:51.000 I ain't seen it in a while.

01:04:52.000 I don't know.

01:04:53.000 I don't use personal credit.

01:04:54.000 Hey, no, how do you sub to Twitch Amazon with W Freshman Double Class Club LK Harris?

01:04:58.000 There should be a button under the screen.

01:05:02.000 Huh?

01:05:02.000 Gotta do it on the desktop.

01:05:03.000 On desktop, yeah.

01:05:04.000 You have the desktop version.

01:05:06.000 Subscribe and then percentage off.

01:05:07.000 Oh, they can't do it on their phone?

01:05:09.000 No.

01:05:09.000 You can't link your Prime to it.

01:05:11.000 You gotta do it on the desktop.

01:05:12.000 On desktop only.

01:05:13.000 On desktop to link your Prime?

01:05:14.000 Yeah.

01:05:14.000 Okay.

01:05:15.000 What else we got?

01:05:16.000 That's it?

01:05:17.000 All right, cool.

01:05:18.000 Smitty, we'll give you the last word, bro.

01:05:20.000 And where can they find you as well?

01:05:21.000 Yeah, where can they find you?

01:05:22.000 Bring on his Instagram if you don't mind, Bill.

01:05:23.000 Yep, man.

01:05:24.000 SmittyTheGoat on all platforms.

01:05:26.000 S-M-I-T-T-Y, The Goat on all platforms.

01:05:31.000 I would personally try to invite everybody to get into that five-day mastermind.

01:05:35.000 31 bucks.

01:05:35.000 That's where the magic is going to happen.

01:05:39.000 So if they click the link in my bio, I have a free class there in the link in my bio.

01:05:42.000 That can teach them the value and the frameworks, but getting into my mastermind is going to help them really scale this thing to the next level with what I do at a higher level.

01:05:53.000 Boom.

01:05:53.000 You can be assaulting directly from me.

01:05:55.000 You're going to be on there with me.

01:05:56.000 I got guests coming in, too.

01:05:57.000 So, like, seven-figure earners, eight-figure earners in, like, the commercial real estate field.

01:06:01.000 And, Grant, you don't got to pay back.

01:06:03.000 So, I'm really about to bring together, like, a mastermind piece for everybody to, like, really win, man.

01:06:07.000 So, it's going to be dope.

01:06:07.000 Grant, you don't got to pay back.

01:06:08.000 That's crazy.

01:06:09.000 That's fire.

01:06:10.000 Okay.

01:06:10.000 Thank you for coming, bro.

01:06:11.000 We learned a lot.

01:06:11.000 I learned a bunch.

01:06:13.000 I took notes and stuff like that.

01:06:14.000 So, thank you, bro.

01:06:15.000 Yeah, 100%.

01:06:16.000 Guys, we'll be back with Dave Green here in a bit.

01:06:19.000 We're going to go and do a real estate for you guys on this two-part Money Monday, and then we're going to go ahead and do FNF News.

01:06:24.000 So stay tuned, guys.

01:06:25.000 We'll be back here.

01:06:25.000 Give us about 10 minutes to switch around.

01:06:27.000 And a quick word from our sponsor.

01:06:33.000 This episode is sponsored by Give, Send, Go fundraising.

01:06:38.000 Finally, we are beginning to see legitimate alternatives to big tech companies in all spheres of society.

01:06:45.000 Now, anytime you have a fundraising need, start a campaign on Give, Send, Go and invite your community to stand with you.

01:06:54.000 Give, Send, Go has become the number one choice for many who have not given a voice because of what they believed.

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01:07:07.000 Give, Send, Go is a family company that shares your values.

01:07:11.000 They only fundraise platform with a hope team, dedicated individuals who personally call every campaign and praise for them in their situation.

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01:07:41.000 That's a lie.

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01:07:57.000 That is GiveSendGo.com.

01:08:00.000 And thank you to GiveSendGo for sponsoring this episode.

01:08:08.000 And we're about to get into another episode with Better Pocket.

01:08:11.000 So thank you guys for enjoying.

01:08:13.000 Peace!

Fresh & Fit - September 16, 2024

How To Make Money With Business Funding w- Kenneth Smith

Episode Stats

Summary

Transcript